Slide 1: A Clear Path to Unlocking Value: Corporate Presentation
TSX: DC.A A COMMON-SENSE APPROACH TO A COMPLEX INDUSTRY BUILT TO R E R A T A COMMON-SENSE E APPROACH A Clear TO AValue Path to Unlocking COMPLEX INDUSTRY Corporate MayPresentation 15, 2025 August 12, 2026 TSX: DC.A
Slide 2: Cautionary Note: Forward-Looking Statements
CAUTIONARY NOTE FORWARD-LOOKING STATEMENTS The content of this document is for informational purposes only and is not being delivered to you in the context of an offering of any securities described herein, nor is it a recommendation or solicitation to buy, hold or sell any security. The information
Slide 3: Our Proven Mining Track Record
OUR PROVEN MINING TRACK RECORD A Clear Path Forward | Dundee is building on decades of mining experience with clearer milestones, stronger catalysts and a path to re-rating. RE-RATING OPPORTUNITY R The asset base and strategic direction create a compelling opportunity for recognition over time. EVOL
Slide 4: Tight Capital Structure, Undervalued Platform
TIGHT CAPITAL STRUCTURE Insider Ownership | 19% UNDERVALUED PLATFORM CAPITALIZATION SUMMARY SHARE PERFORMANCE ($C) December 31, 2023 – August 11, 2026 Share Price* (TSX: DC.A) C$3.90 $5.50 52 Week High / Low* C$5.19/$2.95 $5.00 $4.50 Shares Outstanding 90.2M $4.00 $3.50 $3.00 Options & Others¹ 9.0M
Slide 5: The Re-Rating Opportunity Starts Here
THE RE-RATING OPPORTUNITY STARTS HERE KEY TO UNLOCKING THE DISCOUNT Earn-In & Joint Venture Agreement SHARE PRICE DISCOUNT TO PORTFOLIO VALUE with transitions Dundee into a future operator, creating a path to incremental NAV growth. 43%per share Market valuation undervalues the DISCOUNT strength of
Slide 6: Our Plan to Unlock the Discount
OUR PLAN TO UNLOCK THE DISCOUNT Turning mining expertise and capital into clearer, more durable value drivers CURRENT PORTFOLIO CASH-FLOW PLATFORM VALUE MODEL The Evolution Assets brought in-house, advanced Value creation can be real, through a defined development plan but gains are not predictable.
Slide 7: Back to the Future: We Have Done This Before
B A C K T O T H E F U T U R E | W E H A V E D O N E T H I S B E F O R E DUNDEE PRECIOUS METALS’ SHARE PRICE PERFORMANCE ON TRANSITION TO AN OPERATING COMPANY Dundee Precious Metals’ Share Price Returns 2003 - 2006 The Precedent When the market began valuing Dundee Precious Metals as an operator, the
Slide 8: Shovelnose: The First Major Step Toward Future Operatorship
SHOVELNOSE: T H E F I R S T M A J O R S T E P T O W A R D F U T U R E O P E R A T O R S H I P EARN-IN SUMMARY Up to C$85M total investment to earn up to 60% interest. STAGE PROJECT EXPLORATION DUNDEE EXPENDITURE EXPENDITURE (CDN$) INTEREST DEADLINE* Positions Company to advance a high-quality Stage
Slide 9: The Dundee Advantage
THE DUNDEE ADVANTAGE W E K N O W M I N I N G | W E T H I N K L I K E I N V E S T O R S We are geologists, metallurgists, mining engineers, We have 140+ years of collective experience on all investment bankers and financiers with extensive sides of a deal – both on the ground and in the capital indus
Slide 10: The Dundee Advantage: An Investor-Focused Approach
T H E D U N D E E A DVA N TAG E AN INVESTOR-FOCUSED APPROACH Making strategic, de-risked, asset acquisitions for our shareholders in a challenging industry. T S X : D C . A 10
Slide 11: Our Proven Model
OUR PROVEN MODEL Built to Outperform in a Complex Sector EXCLUSIVE EXPERTISE CAPITAL ALLOCATION We provide mining knowledge and insights inaccessible to most investors. RIGOROUS DUE DILIGENCE ENHANCED RETURN PROFILE We conduct disciplined, forensic Investing in Dundee is like due diligence to identi
Slide 12: Our Process Is Unique
OUR PROCESS IS UNIQUE DUE DILIGENCE We do not simply take management or technical reports at face value – we do our own homework. CONFIDENTIALITY AGREEMENTS We sign confidentiality agreements and do our own analysis and interpretation of technical data. INDEPENDENT PROJECT VIEW We develop an indepen
Slide 13: Understanding Total Risk
UNDERSTANDING TOTAL RISK Our De-Risking Process is a Key Dundee Differentiator BUSINESS RISK GEOLOGICAL / TECHNICAL RISK • Does it enable a positive • Is it an orebody or a science investment? experiment? • Is the project financeable? • Does the proposed mining • Is it worth pursuing? method make se
Slide 14: ESG Is Prudent Risk Management
E S G I S P R U D E N T R I S K M A N A G E M E N T We are purpose-driven to help the next generation of mining companies build and operate mines with the best available operational, technical, and ESG practices. We only invest in companies with a demonstrated commitment to ESG, who focus on mitigat
Slide 15: Jonathan Goodman, President & CEO
JONATHAN GOODMAN|PRESIDENT & C E O 40+ YEARS OF STRATEGIC LEADERSHIP One of the resource and investment industries’ leading executives, Jonathan Goodman, CFA®, P. Eng, and MBA, is a proven leader with over 40+ years of experience spanning geology, investment management, and executive leadership. He
Slide 16: Our Management Team
JUNE 2024 / TSX:DC.A OUR MANAGEMENT TEAM LILA MURPHY, CFA®, CPA MATTHEW GOODMAN, CFA® MARK PEREIRA DARCY DONELLE, CFA®, CPA, CA EVP & Chief Financial Officer* Vice President, Investments* VP & Corporate Secretary ViceJUSTIN SICKERT President, Finance Analyst 30+ Years Investment 13+ Years Investment
Slide 17: Our Technical Team
JUNE 2024 / TSX:DC.A OUR TECHNICAL TEAM DR. JULIAN BARNES ADRIAN GOLDSTONE JUSTIN SICKERT PhD Geology M. Sc. Environment & Hydrogeology Bachelor of Applied Science Managing Director, Technical Managing Director, Technical Senior Analyst/Project Coordinator Dr. Barnes provides extensive experience in
Slide 18: Our Board of Directors
JUNE 2024 / TSX:DC.A OUR BOARD OF DIRECTORS PETER NIXON JONATHAN GOODMAN ANDREW MOLSON TANYA COVASSIN Chairman & Independent Director Director Independent Director Independent Director ALLEN PALMIERE BRUCE MCLEOD JAIMIE DONOVAN Independent Director Independent Director Independent Director SCAN TO V
Slide 19: Global Asset Map
GLOBAL ASSET MAP HIGH-QUALITY PORTFOLIO OF INVESTMENTS KEY ASSET OWNERSHIP SPC NICKEL CORP. 35.5% VIVA GOLD CORP. 19.9% SATURN METALS LIMITED 19.8% MAGNA MINING INC. 18.7% AUSGOLD LIMITED 7.8% D U N D E E C O R P O R A T I O N | T S X : D C . A 19
Slide 20: Built to Re-Rate
DISCOUNTED TODAY BU ILT TO RE- RATE RE-RATING UNDERWAY A Discounted Mining Platform at an Inflection Point R E - R AT I N G O P P O R T U N I T Y R Trading at a meaningful discount to underlying portfolio value. E V O LV I N G P L AT F O R M E Moving from holding-company value creation to a cash-flo
Slide 21: Investor Relations
JUNE 2024 / TSX:DC.A 80 Richmond Street West InvestorRelations Investor Relations Suite 2000 Toronto, Ontario ir@dundeecorporation.com M5H 2A4 +1.416.864.3584 21